Late Form 10B Filing Not Fatal—ITAT Allows Exemption if Audit Report Filed Before Processing

Aditi Educational Trust Vs ITO (ITAT Bangalore) Late Filing of Form 10B Not Fatal – ITAT Allows Exemption When Audit Report Available Before Processing The assessee trust claimed exemption under Sections 11 & 12, but mistakenly filed Form 10BB instead of Form 10B within time and later filed the correct Form 10B with delay (262 days). The CPC denied exemption under Section 143(1) due to non-compliance with filing timelines. The ITAT Bangalore held that while filing of audit report in Form 10B is a substantive requirement, the timing of filing is procedural in nature. Since the correct For...